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Vonivette Company sold $10,000,000,12%,25 year bond son January 1,2023 . The bonds were dated January 1 and pay interest annually on January 1 . Vonivette
Vonivette Company sold $10,000,000,12%,25 year bond son January 1,2023 . The bonds were dated January 1 and pay interest annually on January 1 . Vonivette Company uses the straightline method to amortize bond premium or discount. The bonds were sold at 95 . Instructions: 1. Prepare the journal entry to record the issuance of the bonds on January 1, 2023 2. Prepare a bond discount amortization Schedule for the first 5 interest periods. 3. Prepare the journal entry for interest and the amortization of the discount in 2023 and 2024
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